CONSUMER INTEREST IN CAR DEALS IS HIGH

KEY TAKEAWAY

Variations on “best car deals” have gained significant interest on search in the past 90 days. Doesn’t come as a surprise with all of the OEM Incentives launched during COVID-19 Crisis. Mainly a reminder to take advantage of this opportunity and promote available incentives to get in-market shoppers to engage with your new inventory. And make sure that you are heavily promoting any deals your dealership is currently running through social advertising and targeted website ads.

"Buy A Car" Searches Are Higher Now Than They Were Prior To Coronavirus Disruption

KEY TAKEAWAY

Searches for “buy a car” and related queries are higher than they were pre-Coronavirus. While top trending search queries are mainly related to general car buying education, if you toggle to “rising searches,” you can see that the top five are focused on searches related to “buying a car now” and “car delivery.” Make sure that your dealership is getting in front of shoppers early and often in their research journey to educate them through the process to turn them into new customers.

'NEAR ME' SEARCHES FOR SERVICE & ROS IMPROVE

KEY TAKEAWAY

The pendulum appears to have swung more in favor of parts & service. Customers who previously delayed repairs are getting them taken care of now. April RO volume overall saw a sharp decline versus March, but has rebounded significantly in the last 10 days. According to data from PureCars Industry Report, the last week of April saw a 27% increase in RO volume; 31% increase in fixed ops revenue, and a 5% increase in average dollars per RO.

Every dealer should be investing in fixed ops advertising to capitalize on the heightened revenue opportunities.